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. � , � <br /> t � <br /> percent (125%) of the maximum annual interest and principal requirements of the <br /> then outstanding bonds and the additional parity bonds proposed to be issued. <br /> For purposes of this subsection, the records of the City shall be analyzed <br /> and all showings prepared by a certified public accountant or independent financial <br /> adviser employed by the City for that purpose. <br /> (e) The interest on the additional parity bonds shall be payable <br /> semiannually on the first days of February 1 and August 1 in the years in which <br /> interest is payable and the principal of the additional parity bonds shall be payable <br /> semi-annually on the first days of February and August in the years in which <br /> principal is payable. <br /> (� The issuance of the additional parity bonds will not result in a <br /> violation of I.C. 6-3.5-7-14 relating to the minimum rate at which the St. Joseph <br /> County Council is required to maintain the county economic development income <br /> tax. <br /> Except as otherwise provided in this Section 22, so long as any of the Bonds are <br /> outstanding, no additional bonds or other obligations pledging any portion of the county economic <br /> development income tax revenues of the City shall be authorized, executed or issued by the City <br /> except such as shall be made subordinate and junior in all respects to the Bonds, unless all of the <br /> Bonds are redeemed and retired coincidentally with the delivery of such additional bonds or other <br /> obligations, or as provided in Section 14 hereof, funds sufficient to effect such redemption are <br /> available and set aside for that purpose at the time of issuance of such additional bonds. <br /> SECTION 23. For the period during which the Bonds are outstanding, the City <br /> hereby covenants that for the purpose of ensuring receipt by the City of its fractional amount of <br /> the certified distribution of revenue from the county economic development income tax, it will <br /> maintain a capital improvement plan that conforms in all respects to I.C. 6-3.5-7-15. <br /> SECTION 24. The appropriate officers of the City are hereby authorized to take <br /> all actions required to obtain a rating or bond insurance for the Bonds, if deemed economically <br /> feasible and desirable. <br /> SECTION 25. This Ordinance shall be in full force and effect from and upon <br /> compliance with the procedures required by law. <br /> -22- <br />